In the IoT era, due to the progress of the Fourth Industrial Revolution technologies, it is expected that firms can create business value that has never existed. However, in order for firms to derive value from the utilization of the Fourth Industrial Revolution technologies, there are various problems to overcome.

Therefore, in this paper, we reviewed recent studies regarding management in the IoT era including our questionnaire survey, and we also took up GE Aviation's aircraft engine service and JapanTaxi's and Denno Kotsu's car delivery services as case studies. As a result, it was found that the relationship with stakeholders was important in the industrial ecosystems in the IoT era. On the other hand, it was also suggested that the number of firms that have achieved outcomes by utilizing the Fourth Industrial Revolution technologies was still limited.